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Grupo Financiero Banorte SAB de CV (GFNORTEO.MX)

GFNORTEO.MX on Mexico Stock Exchange

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Fitch Affirms GFNorte and Banorte's VR & IDRs at 'bbb+' / 'BBB+'; Outlook Negative

(The following statement was released by the rating agency) MONTERREY, March 16 (Fitch) Fitch Ratings has affirmed Grupo Financiero Banorte, S.A.B. de C.V. (GFNorte) and Banco Mercantil del Norte, S.A.'s (Banorte) Viability Ratings (VRs) at 'bbb+', as well as their Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) at 'BBB+'. The Rating Outlook is Negative. In addition, Fitch has affirmed GFNorte and Banorte's Short-Term Foreign- and Local-Currency IDRs at 'F2'. Fitch has al